08.02.21 Monday, 8.36 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, as written and expected opened on positive note at 14952.60, our expected opening band i.e.,14915-14950-14965, on opening move, it made day high 15014.65 thereafter, the Index moved down with volatile move till our support level i.e., 14870, made day low 14864.75, further it moved up and closed at 14924.25 on flat to positive bias with Intra minor gain 28.60 points i.e., 0.19%.

What will happen today? Nifty Index may open on positive note to test 14960-14995-15010 if open, trade and sustain above 15010 then, the Index may test 15040-15070-15095-15130-15160-15195 levels. On the other hand, the immediate support lies at 14920-14880 if, trade and sustain below 14880 then, the Index may try to re-visit 14860-14825-14755-14700-14640-14575 levels.

Special Mention: On Friday, the Nifty Index continued its northward journey, tested our long awaited threshold levels i.e., 15k, though it moved 15000, it was unable to sustain and close above 15k, the brief sell-off dragged the Index and closed well below 15k mark, today if the Index surpass 15010-15070 and closes above 15070 fior three consecutive trading sessions then, the Index may test 15200-15500 levels in the near term. On the other hand, if the Index unable to move and sustain above 15070 and trades below 15000, then the weakness may drag the Index till 14900-14755-14575, further down move below 14575 then, the weakness may drag the Index till 14455-14360 levels in the near term, let see how it opens today, near 14960-15070 and trades. Trade with caution at the higher levels, is my advise at this juncture.

Trading Strategy: The followers/readers, who invested in the Nifty50 stocks during the recent downtrend near 13770-13600,  try to start book profit near 15000-15070-15200 levels in the Nifty Index.

Also, read the Nifty Index weekly outlook, which will help the traders/investors to know about the Index weekly hurdle and support levels and I hope it will give more insight about the Nifty index, to read the weekly outlook please, visiit by using the following link: https://www.niftytech.in/marketupdate/62

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Wishing you for a safe, secured and profitable trading